The Euro remains under pressure. Overview for 09.12.2019
The major currency pair surrendered last Friday because of the American statistics; right now, it is still under pressure.
On Monday afternoon, EURUSD is balancing under zero gravity, but bears seem to be pretty strong. The current quote for the instrument is 1.1064.
The numbers of the US labor market published last Friday provided as much support to the USD as possible. The Unemployment Rate hit the 50-year low at 3.5% in November after being 3.6% the month before, although the indicator wasn’t expected to change. Another report, the Non-Farm Employment Change showed 266K over the same period of time after being 156K in October. The forecast was 181K, but the actual reading exceeded expectations.
The report on the Average Hourly Earnings, which showed +0.2% m/m (worse than both previous and expected readings) couldn’t spoil the mood.
Overall, the numbers on the US labor market afforded market players a long-awaited ground for making a pause among the flow of negative news.
One more thing to support the American currency was the preliminary report on the University of Michigan Consumer Sentiment, which increased up to 99.2 points in December (better than expected) after being 96.8 points in the previous month. The Current Conditions improved up to 115.2 points, thus indicating the growing optimism of those surveyed in relation to their financial status.